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Dec 27, 2012
12/12
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KRON
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the main dispute continues to be over taxes. >> in national news. dallas cowboys nose tackle josh brent has been formally indicted on a charge of intoxication manslaughter. for the crash that killed a teammate. brent was arrested earlier this month after police say he flipped his car while speeding though a neighborhood in suburban dallas. brent survived the crash. but his friend and teammate. practice squad member jerry brown. died at a hospital. intoxication manslaughter carries a maximum sentence of 20 years in prison. no court dates have been set. >> right now parts of the country are dealing with the aftermath of a severe storm system that is being blamed for at least six deaths. and tonight. we have dramatic new video of a major tornado that ripped through mobile alabama last night. >> it is right there. we have to hurry up. >> officials say the tornado touched down five times in the mobile area -- ripping off roofs and shattering windows. the destruction was evident at a high school in mobile. were several portable classrooms were destroyed a
the main dispute continues to be over taxes. >> in national news. dallas cowboys nose tackle josh brent has been formally indicted on a charge of intoxication manslaughter. for the crash that killed a teammate. brent was arrested earlier this month after police say he flipped his car while speeding though a neighborhood in suburban dallas. brent survived the crash. but his friend and teammate. practice squad member jerry brown. died at a hospital. intoxication manslaughter carries a...
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Dec 27, 2012
12/12
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KRON
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. >> the country is edging closer to the folly of the so-called fiscal cliff, a series of tax hikes and spending cuts set to take effect in five days. >> there still seems to be no signs of a compromise acting congress and president obama. >> president obama return to washington to get the credit shortage of medication. is a video the president leaving. >> house and senate members are expected to reconvene today as well. >> without a budget agreement, automatic tax increase is for everyone in the spending cuts will be triggered in the new year. >> the main dispute continues to be over taxes. >>, of the kron 4 morning news changes are coming to a netflix starting next year. how the company wants to get users more connected socially and next. >> the web more attractive weather and headlines when we come back >> wexcome backed. >> time is 4:10. >> net flicks is adding more social features to it streaming media service in the u.s.. >> the company confirms that the congress passed a bill that drops restrictions on sharing user's video rental history. these revisions now with president obama
. >> the country is edging closer to the folly of the so-called fiscal cliff, a series of tax hikes and spending cuts set to take effect in five days. >> there still seems to be no signs of a compromise acting congress and president obama. >> president obama return to washington to get the credit shortage of medication. is a video the president leaving. >> house and senate members are expected to reconvene today as well. >> without a budget agreement, automatic tax...
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Dec 28, 2012
12/12
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KRON
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many republicans are against any tax increases. most americans just want something to be done. >> if people are just tired of partisanship. we just want everyone to come together. >> if lawmakers do not come together then this may lead to recession. i am and \ / \ \ / ed payne reporting. >> we will be right back. [ male announcer ] if you're ready to get more from your tv service, now's a great time to get at&t u-verse tv. make the switch. [ female announcer ] call now to get at&t u-verse tv for only $29 a month for 6 months, with a total home dvr included free for life. plus, add hbo and cinemax and get the first three months free. [ male announcer ] with u-verse tv, you can record four shows at once with the total home dvr that lets you play back, pause, or rewind your shows from any room. get over 170 hd channels. that's more than cable. [ female announcer ] call now to get at&t u-verse tv for only $29 a month for 6 months, with a total home dvr included free for life. plus, add hbo and cinemax, and get the first three months fr
many republicans are against any tax increases. most americans just want something to be done. >> if people are just tired of partisanship. we just want everyone to come together. >> if lawmakers do not come together then this may lead to recession. i am and \ / \ \ / ed payne reporting. >> we will be right back. [ male announcer ] if you're ready to get more from your tv service, now's a great time to get at&t u-verse tv. make the switch. [ female announcer ] call now to...
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Dec 27, 2012
12/12
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KRON
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without a budget agreement, automatic tax increases for everyone and deep spending cuts will be triggered in the new year. the main dispute continues to be over taxes. >> vicki: starbucks will publicly take a stand on the looming fiscal cliff. c-e-o howard schultz is asking workers at its 120 d-c-area stores to write "come together" on the coffee cups they serve on thursday and friday. he says it's a way to quote: "send our elected officials a respectful but potent message, urging them to come together to find common ground." both sides are due back by thursday and have vowed to make a final attempt. starbucks notes workers are not required to write the message on cups. >> 49ers sunday at candlestick with a chance to clinch the division title kron four's jason appelbaum joins me now with more. .jason the team's a little banged up right? >> manning's am >> vernon davis, manning >> . >> and justin smith at this kind of the big one, butthe injuries shouldn't be a problem sunday with an arizona team in town that has lost 9 of it's last 10 games coach jim harbaugh's team a two-touchdown favori
without a budget agreement, automatic tax increases for everyone and deep spending cuts will be triggered in the new year. the main dispute continues to be over taxes. >> vicki: starbucks will publicly take a stand on the looming fiscal cliff. c-e-o howard schultz is asking workers at its 120 d-c-area stores to write "come together" on the coffee cups they serve on thursday and friday. he says it's a way to quote: "send our elected officials a respectful but potent message,...
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Dec 30, 2012
12/12
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KPIX
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capital games taxes, dividend taxes, estate taxes will all go up. everyone will see a 2% cut in your paycheck, since the payroll tax cut will expire. for every american that's about a $940 decrease in your annual takehome pay. we're talking about the child tax credit, the marital it penalty fixes, and on january 2, the stock market as you talked about, reopens, and the federal government reopens which means the sequestration kicks in. $110 billion in spending cuts a year for the next 10 years. that's a 9% cut in defense and 8% cut in domestic spending. and then we're not finished because january 7, that week, 2.1 million people will stop receiving their unemployment checks. all in all, economists say this could mean 3.4 million jobs lost and unemployment could reach 19.1% by the end of the 2013, and the u.s. will enter another recession, and yet congress can't get anything done >> there is a little bit of a cushion there. the i.r.s. didn't expect that we would get to this point. they thought congress would work something out, so it's not as if peopl
capital games taxes, dividend taxes, estate taxes will all go up. everyone will see a 2% cut in your paycheck, since the payroll tax cut will expire. for every american that's about a $940 decrease in your annual takehome pay. we're talking about the child tax credit, the marital it penalty fixes, and on january 2, the stock market as you talked about, reopens, and the federal government reopens which means the sequestration kicks in. $110 billion in spending cuts a year for the next 10 years....
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Dec 26, 2012
12/12
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KRON
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without an agreement, automatic tax increase is for everyone and deep spending cuts will be triggered in the new year. the >> the death toll has risen to six from winter storms in the nation's midsection. if this is video automobile, alabama. an enormous storm system that brought snow and sleet to the nation's midsection and tournedos to the deep south is now moving its way toward the northeast. >> we are still tracking pretty good storm sales as you can see here is a live look as storm tracker 4. san for cisco is starting to dry out. we are still seeing pretty good rain coming out towards ever bring and 101. \ evergreen and 101. hayward and union city are also looking at moderate rain showers that are coming through. richmond and certain parts oakland are also looking at light rain. all the rain will stick a round and we will have scattered showers for the rest of the day. showers will decrease by the afternoon and you should grab your unreligious in case you are doing shopping. the showers will and by tonight and the skies should clear up. temperatures right now are 49 degrees in oa
without an agreement, automatic tax increase is for everyone and deep spending cuts will be triggered in the new year. the >> the death toll has risen to six from winter storms in the nation's midsection. if this is video automobile, alabama. an enormous storm system that brought snow and sleet to the nation's midsection and tournedos to the deep south is now moving its way toward the northeast. >> we are still tracking pretty good storm sales as you can see here is a live look as...
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Dec 28, 2012
12/12
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CNBC
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on estate tax alone as of tuesday, the estate tax she thresholds go from 5,000 exclusion to 30% tax rate. to $1 million and 50% tax rate who can do estate planning. >> and neither side can make any headway. over and over again. you ask the one side, say democrats. if the republicans gave you everything you wanted on tax hikes, do you could any entitlement reform? and the vast majority said no. and you turn to republicans, what if they embraced representative ryan's plans? would you raise taxes on anybody and a lot of them say no. so neither side will give that little bit that we know each side has to have because they want to have something, what do you get? i don't see how harry reid who hasn't passed a budget in years manages to come up with something by sunday night. >> we look at how monday will turn out. a lot of developments over the weekend will determine that. guys, it's not going to be an easy open, that's for sure, on monday. >> i'm wondering what it will look like. at the same time, when you ask the question, maybe it's better -- it's a bad deal worse than no deal? president o
on estate tax alone as of tuesday, the estate tax she thresholds go from 5,000 exclusion to 30% tax rate. to $1 million and 50% tax rate who can do estate planning. >> and neither side can make any headway. over and over again. you ask the one side, say democrats. if the republicans gave you everything you wanted on tax hikes, do you could any entitlement reform? and the vast majority said no. and you turn to republicans, what if they embraced representative ryan's plans? would you raise...
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Dec 29, 2012
12/12
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CSPAN2
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not allowed to exempt our manufacturers from that tax. now, we established the world trade organization at a time where we really didn't think anyone was going to compete, and we wanted to encourage other countries to build their industries, but the world has changed, and i think on a bipartisan basis, we need to push for a change in those wto, the sanction between indirect and direct taxation when it comes to tax credits for exports. sure? >> if you've come across companies that do actually export successfully in your research? >> absolutely. i talk about a number of them, and we still -- one of the companies i talked about is tucker powder. it's in alabama, and they export candy all over the world, and i described the alabama as an example of that you don't have to be on the coast to be -- to be successful at reporting, and one that they don't understand, we have a big port in alabama. they took exception with that. the point is that the -- even their pucker powder is extraordinary. they are going on trade fairs. they are going on trade
not allowed to exempt our manufacturers from that tax. now, we established the world trade organization at a time where we really didn't think anyone was going to compete, and we wanted to encourage other countries to build their industries, but the world has changed, and i think on a bipartisan basis, we need to push for a change in those wto, the sanction between indirect and direct taxation when it comes to tax credits for exports. sure? >> if you've come across companies that do...
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Dec 26, 2012
12/12
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WBAL
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the home buyer tax credit temporarily boost sales. analysts attribute the jump to lower interest rates. fewer homes on love market, and growing consumer confidence. lawmakers seem to be incapable of coming to agreements even on a farm bill in congress which may mean higher milk prices in the coming year. the price of milk could rise from its current average cost of $3.65 a gallon to as much as $7 a gallon if congress fails to pass a new form bill. gas is cheaper. the governor -- former would have to follow legislation dating back to the truman presidency which would force washington to buy milk at inflated prices. it would be based on what a cost to produce milk in 1949 when it was basically done by hand. speaking of the fiscal cliff, starbucks is making a political push. the ceo wants d.c. area stores to read the words come together serve thursday and friday. he wrote president be bystanders, you and your customers have an opportunity and i believe we all have a responsibility to spend our -- send our elected officials a respectful b
the home buyer tax credit temporarily boost sales. analysts attribute the jump to lower interest rates. fewer homes on love market, and growing consumer confidence. lawmakers seem to be incapable of coming to agreements even on a farm bill in congress which may mean higher milk prices in the coming year. the price of milk could rise from its current average cost of $3.65 a gallon to as much as $7 a gallon if congress fails to pass a new form bill. gas is cheaper. the governor -- former would...
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Dec 27, 2012
12/12
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WMAR
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a teacher with $43,000 a year will get a tax hike of more than $3,000 a year. a professional athlete would see his taxes go up more than 2.4 million a year. unemployment benefits for some 2 million people would expire. the nation may fall back into a recession. >>> even star bucks is getting into the fight on the fiscal cliff. their ceo wants workers to write come together on the coffee cups they serve thursday and friday. it's the company's way of telling the politicians to find common grounds. >> if people would get in the room and leave their ego behind, but be so sensitive to the'ds of the american people, we would have an agreement. >> a suggestion from the ceo. baristas won't be forced to write anything on the cup. >>> regardless of the fiscal cliff, the new year will bring new laws. same sex marriage will be allowed in maryland. that is not not the only new law. we told you about 24 hour casinos and a new law allowing veterans showing their status on drivers license. and freezing a child's credit any time they want to protect them. >>> former president g
a teacher with $43,000 a year will get a tax hike of more than $3,000 a year. a professional athlete would see his taxes go up more than 2.4 million a year. unemployment benefits for some 2 million people would expire. the nation may fall back into a recession. >>> even star bucks is getting into the fight on the fiscal cliff. their ceo wants workers to write come together on the coffee cups they serve thursday and friday. it's the company's way of telling the politicians to find...
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Dec 24, 2012
12/12
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KCSM
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he said the 1 requirement i have for any deal is hiking tax rates. the reason that boehner was not able to do plan b was because it involved breaching the principle, which he did openly and said he was ready to do it. there were conservatives who would not do it. that is not a figure of the party that will be extremely hard to reconcile. if you can not, how you get a deal done before january 1? >> that is essentially the problem the president faced with boehner two years ago. last year. can he deliver? how can you negotiate with someone who cannot deliver on his side? >> you go to people for support, at least three of whom have lost their committee assignments. how can you expect them to come over to your way of thinking? >> they were crowing when john boehner went down, taking some delight, but that was pre- cleared by the leadership. the leadership was with him. this is not a question of -- quite bluntly, leaving and losing their virginity on the issue of tax cuts. it is an important thing for these republicans who have not voted. no republican in
he said the 1 requirement i have for any deal is hiking tax rates. the reason that boehner was not able to do plan b was because it involved breaching the principle, which he did openly and said he was ready to do it. there were conservatives who would not do it. that is not a figure of the party that will be extremely hard to reconcile. if you can not, how you get a deal done before january 1? >> that is essentially the problem the president faced with boehner two years ago. last year....
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Dec 27, 2012
12/12
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FOXNEWSW
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, tax cuts for everyone making under 250, can republicans say no to a tax cut in 2015? >> it will be tough but not tougher than the pr battles he's fighting right now. i think he wants that scenario. i think obama thinks going off the click is a win for him. he can say i am bringing in revenue, i am lowering the deficit. and he can still blame the gop when their tacks go up. i don't think the grass pollen had the ball in this fight. i don't think they gave it up, i don't think they ever had it. it's tough for them to win against a white house like this and a white house press core that's not going to report anything negative against the president. >> there's a ball and the ball is the debt ceiling. all these things, i will get to craig, but have to go through the house. the money negotiations have to go through the house. if the house says no on raising the debt ceiling, they can create a lot of havoc. go ahead, greg. >> you know what? i don't care anymore. >> oh, okay. >> because as a human being in this discussion i've already lost, both options going over the fiscal
, tax cuts for everyone making under 250, can republicans say no to a tax cut in 2015? >> it will be tough but not tougher than the pr battles he's fighting right now. i think he wants that scenario. i think obama thinks going off the click is a win for him. he can say i am bringing in revenue, i am lowering the deficit. and he can still blame the gop when their tacks go up. i don't think the grass pollen had the ball in this fight. i don't think they gave it up, i don't think they ever...
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Dec 27, 2012
12/12
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KGO
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. >> going over the fiscal cliff mean morz than higher taxes. federal workers at risk of being furloughed and unemployment benefits for two million people could expire saying the nation will fall back into a recession. there are reports hairy reed is now working on a smaller deal than the one the president negotiate yatesed with house speaker john boehner. >> the package reportedly preventing tax increases on middle class families and cut some spending programs but it's not clear such a plan could pass. >> star bucks is using its coffee cups to jump into washington politics. the world's biggest coffee chain asking employees and cafes to write something other than customer names on cups wanting workers to scribble words come together on cups this week as a message to lawmakers to settle this fiscal cliff issue. >> jipgs president morsi signed the country's new constitution into law today. >> he called on the opposition to the opposition restricted the new constitution. >> the parts were draft bid islamist leaders. morsi revoked sweeping powers he
. >> going over the fiscal cliff mean morz than higher taxes. federal workers at risk of being furloughed and unemployment benefits for two million people could expire saying the nation will fall back into a recession. there are reports hairy reed is now working on a smaller deal than the one the president negotiate yatesed with house speaker john boehner. >> the package reportedly preventing tax increases on middle class families and cut some spending programs but it's not clear...
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Dec 28, 2012
12/12
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WJLA
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. >> just four days until taxes go up for all americans. tonight what you're telling washington. >>> not again, a giant storm on the move. >>> scare at sea, the cruise ship nightmare unfolding, the captain who warned the passengers ahead of time, but it didn't work. >>> and at last. ♪ at last the american greats me lost this year. ♪ moon river the lasting gifts and the laughs they leave behind. >> everything you do, do it cool. stand back. >>> good evening on this friday night. diane is spending this holiday weekend with her family. we begin with the 11th hour high stakes meeting at the white house late today to avoid the fiscal cliff. but no deal, asanger builds across the country, the clock is ticking. just four days left before taxes go up for all americans and federal programs see major cuts. we've shown you the math here. the average american household would see their tax bill go up nearly $3,500. this evening, president obama telling congress, the american people are watching what we're doing here. he appeared in the briefing room
. >> just four days until taxes go up for all americans. tonight what you're telling washington. >>> not again, a giant storm on the move. >>> scare at sea, the cruise ship nightmare unfolding, the captain who warned the passengers ahead of time, but it didn't work. >>> and at last. ♪ at last the american greats me lost this year. ♪ moon river the lasting gifts and the laughs they leave behind. >> everything you do, do it cool. stand back. >>>...
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Dec 27, 2012
12/12
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FOXNEWSW
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a lot of taxes will go up but taxes will go up on everybody, not injure the guy around the tree that's paying for everything but everyone will have to pay. and then folks will realize the government we are voting for costs us money too. >> that's the thing. if we don't go over the cliff and they don't reach a compromise, what will happen? they can't afford to keep spending like this. won't spending have to go down by virtue after compromise not being reached? spending will go down a little bit because of the sequester and 9 defense spending, what you talked about on the show quite a bit. a big chunk comes from tax increases. little the end of the unemployment benefits of that been going on for a while, the payroll tax holiday and the alternative minimum tax which is going to grab more and more people. you will have less subsidies for lower income people who are unemployed today and higher tax on middle income americans. it's not great. none of us want tax increases but at the end of the day trillion dollars deficits are bad, too. trillion dollars deficits every year as far as the eye c
a lot of taxes will go up but taxes will go up on everybody, not injure the guy around the tree that's paying for everything but everyone will have to pay. and then folks will realize the government we are voting for costs us money too. >> that's the thing. if we don't go over the cliff and they don't reach a compromise, what will happen? they can't afford to keep spending like this. won't spending have to go down by virtue after compromise not being reached? spending will go down a...
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Dec 27, 2012
12/12
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FOXNEWSW
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tax cuts for everyone making under 250. can republicans say no to tax cut in 2013? >> andrea: it will be tough. not tougher than the p.r. battle they are fighting now. i think he wants that scenario, eric. i think obama thinks going off the cliff is a win for him so he can pass the obama tax cut and say look, i'm bringing in revenue. i lowered the deficit. pass his tax cut. a win and he can blame the g.o.p. i would argue i don't think the g.o.p. had the ball on this fight. i don't think they gave it up. i don't think they had it. it's very tough for them to win against the white house like this. and a white house press corps that is not going to report anything negative against the president. >> eric: the ball is a debt ceiling. remember, all the negotiations, tell you, i'll get to greg, they have to go through the house. money negotiations go through the house. if the house says no on raising debt ceiling they can create havoc. go ahead. >> greg: i don't care anymore. >> kimberly: okay. you did last week? >> greg: as a human being in this discussion, i have already
tax cuts for everyone making under 250. can republicans say no to tax cut in 2013? >> andrea: it will be tough. not tougher than the p.r. battle they are fighting now. i think he wants that scenario, eric. i think obama thinks going off the cliff is a win for him so he can pass the obama tax cut and say look, i'm bringing in revenue. i lowered the deficit. pass his tax cut. a win and he can blame the g.o.p. i would argue i don't think the g.o.p. had the ball on this fight. i don't think...
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Dec 26, 2012
12/12
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KTVU
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. >> one stake point, the president's push to raise taxes on those making more than $250,000 a year. republican opposition to that plan. >>> some san francisco reward its employees for making healthy choices? that's the issue leaders debating as they look for ways to cut health care costs. a new study shows two thirds considered to be the healthiest are over weight or obese. doctors say it can lead to health problems, some say paying employees to eat better and exercise can save money in the long run. >>> holiday celebration still going for many of you but for some of lights and ornaments are starting to come down and the tree that have stood tall will only follow. new at noon, alex live in san francisco with the winter recycling program. >> reporter: the trees still up here in san francisco. of course across the city a lot of these trees starting to come down and workers san francisco's recycling program want to make sure the trees don't end up in the landfill. instead they want to put them to good use, eventually turning them into renewable energy. this is the demonstration just ab
. >> one stake point, the president's push to raise taxes on those making more than $250,000 a year. republican opposition to that plan. >>> some san francisco reward its employees for making healthy choices? that's the issue leaders debating as they look for ways to cut health care costs. a new study shows two thirds considered to be the healthiest are over weight or obese. doctors say it can lead to health problems, some say paying employees to eat better and exercise can save...
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Dec 26, 2012
12/12
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FOXNEWSW
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we are joined by tax attorney marty for your taxes. >> if you want to reduce your taxes now or in 2013. >> how do you decide that? >> you have to run the numbers. are you in the alternative minimum tax rate and you have to really run your numbers and look at 2012 or 2013. you may be a higher bracket in 2013 and may want to take the deductions in 2013 rather than 2012. >> if you want to review the 2012 taxes you say prepaid state income taxes. >> if you pay the state income taxes that may be due next april 159 you have a large capitol gains maybe you sold something you can do that. one of the things you have to keep in mind in doing all of this you have to figure out the alternative minimum tax. there are two systems of taxation. the alternative minimum is a separate one you have to compute. doesn't allow you to conduct military business. you have to run the numbers both ways. for 2012 unfortunately congress hasn't even finished writing the 2012 laws let alone the fiscal cliff. they are going to be over 30 million people in taxes unless they do something called the amt patch. it is some
we are joined by tax attorney marty for your taxes. >> if you want to reduce your taxes now or in 2013. >> how do you decide that? >> you have to run the numbers. are you in the alternative minimum tax rate and you have to really run your numbers and look at 2012 or 2013. you may be a higher bracket in 2013 and may want to take the deductions in 2013 rather than 2012. >> if you want to review the 2012 taxes you say prepaid state income taxes. >> if you pay the...
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Dec 27, 2012
12/12
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WBAL
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say they're voting to lower some taxes, and that makes a very big political difference. natalie? >> kelly o'donnell on capitol hill. thanks so much, kelly. for more now, we go to our chief white house correspondent and political director, chuck todd. chuck, is it all but inevitable now? are we going over the cliff? >> reporter: well, we're probably going over the cliff, but even when we go over, it's going to be temporary. but listen to that last point that kelly made. that adds to the silliness of what we are in right now, which is the last throes of these congressional shenanigans. we may get a deal. i talked to some folks on the senate side who think they can get a deal together in the next 48 hours, that there will probably be some meet nth white house in the next 24 to 367 hours. and it's possible they could cobble together something. but i did have others who said to me, particularly those on the house said that said you know what, it's almost easy irat this pointing to over the cliff. next week they get to be cutting taxes, where this week they're raising them, ev
say they're voting to lower some taxes, and that makes a very big political difference. natalie? >> kelly o'donnell on capitol hill. thanks so much, kelly. for more now, we go to our chief white house correspondent and political director, chuck todd. chuck, is it all but inevitable now? are we going over the cliff? >> reporter: well, we're probably going over the cliff, but even when we go over, it's going to be temporary. but listen to that last point that kelly made. that adds to...
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Dec 31, 2012
12/12
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FOXNEWSW
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unemployment benefits would continue for one year and the estate tax would go up. we have learned lawmakers are still working out the automatic spending cuts. president obama weighs in saying middle class families can not get caught in the middle. >> the last thing folks like the folks up here on this stage can afford right now is to pay an extra $2,000 in taxes next year. middle-class families can not afford it, businesses cannot afford it, our economy can not afford it. >>trace: traders on wall street are watching the president's comments. the chance of going over the cliff may not look great but the dow is up for the time being. we have fox coverage with wendell at the white house. but, first, mike is live on capitol hill. the senate leader is the -- actually, the minority leader, what is he telling colleagues? >>reporter: he said they are very, very close. he would like to take action to avoid having americans suffer a huge tax increase in a matter of ten hours. there are a lot of anxious senators walking around wondering if or when they will get a chance to vo
unemployment benefits would continue for one year and the estate tax would go up. we have learned lawmakers are still working out the automatic spending cuts. president obama weighs in saying middle class families can not get caught in the middle. >> the last thing folks like the folks up here on this stage can afford right now is to pay an extra $2,000 in taxes next year. middle-class families can not afford it, businesses cannot afford it, our economy can not afford it. >>trace:...
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Dec 30, 2012
12/12
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WTTG
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and, every working american's taxes will go up january 1st if they do nothing about the payroll tax, a pretty big increase, and, defense cuts and everyone agrees, with that policy to have middle class americans' taxes go up, and, it totally irresponsible defense cuts and this is what congress thinks is a good deal. >> chris: i'm not sure it is a good deal but avoids the worst of the fiscal cliff. senator bayh -- obviously, we don't know, what is your sense, no filibuster in the senate? you heard lindsay graham and do republicans pass whatever the senate agrees to? >> the odds are somewhat better than 50/50 we get a minimal deal in the senate. not one that solves our debt problem, as you pointed out earlier and this is a prequel to going through it again around the first of march over the debt ceiling and getting us through this crisis, slightly better than 50-50 and the real question is in the house of representatives and will it be enough of a compromise, that enough republicans can vote for it, to get through the house? i put that at 50-50. >> chris: byron, the most we can say, or
and, every working american's taxes will go up january 1st if they do nothing about the payroll tax, a pretty big increase, and, defense cuts and everyone agrees, with that policy to have middle class americans' taxes go up, and, it totally irresponsible defense cuts and this is what congress thinks is a good deal. >> chris: i'm not sure it is a good deal but avoids the worst of the fiscal cliff. senator bayh -- obviously, we don't know, what is your sense, no filibuster in the senate?...
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Dec 26, 2012
12/12
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WBAL
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washington, and a state of gridlock, calls it -- as they struggle to come to a compromise to avoid tax hikes and spending cuts. members of both the house and senate are also heading back to capitol hill tomorrow. after the holiday break the president hopes will provide perspective. >> everybody can cool off, everybody can drink some eggnog and have some christmas cookies. >> and return to washington after speaker john boehner failed to get enough support for muslim party for a plan b that the bill that would raise taxes for those making more than a million dollars a year. >> what the president has offered so far simply would not do anything to solve our spending problem and begin to address the nation's crippling debt. >> so are still a stalemate. with the january 1 deadline quickly approaching, some were very we might fall off. >> if we allow that to happen it would be the most colossal consequential act of congressional irresponsibility in a long time. >> the president is expected to arrive here in d.c. early tomorrow morning. the house and senate convened later that day. in washingt
washington, and a state of gridlock, calls it -- as they struggle to come to a compromise to avoid tax hikes and spending cuts. members of both the house and senate are also heading back to capitol hill tomorrow. after the holiday break the president hopes will provide perspective. >> everybody can cool off, everybody can drink some eggnog and have some christmas cookies. >> and return to washington after speaker john boehner failed to get enough support for muslim party for a plan...
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Dec 26, 2012
12/12
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and time is running out to submit your homested tax credit application. the deadline is december 31st. now, this is a tax credit that up until now you would get automatically. in 2007 the state legislature passed a law requiring all homeowners to submit an application. we had five -- we had a five- year grace period and now that's over, so you have to fill out that form. geb, the deadline is the 31st. >>> if you thought the stores were packed in the final days leading up to christmas, you may not want to go out today. shoppers are going to be back in the malls to return those unwanted gifts. also cashing in on those gift cards and despite the madness at those stores, retail sales are the weakest on record since 2008. >>> they are spending their christmas half a world away. >> yeah. coming up this morning at 5:00, how are you doing this morning? how some soldiers [ no audio ] the way. >>> we do have breaking news overnight. it was a tough night for the maryland state police in
and time is running out to submit your homested tax credit application. the deadline is december 31st. now, this is a tax credit that up until now you would get automatically. in 2007 the state legislature passed a law requiring all homeowners to submit an application. we had five -- we had a five- year grace period and now that's over, so you have to fill out that form. geb, the deadline is the 31st. >>> if you thought the stores were packed in the final days leading up to christmas,...
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Dec 28, 2012
12/12
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estate tax, maybe not. the important though, i think, is mcconnell and the senate is important, but ultimately john boehner has said he wants the majority of republican members of the house to vote for whatever deal happens. that's a key factor. they have to agree to something that president obama also agrees to. that's a big gap. basically he's -- i don't know that there's 120 house republican votes for that yet. plan b was voted on, a -- house republicans wouldn't approve of that, either. the how is like a big block here on any kind of permanent deal. >>> i want to bring in debbie wasserman schultz, florida democrat and head of the dnc. congresswoman, when you look at what's happening today, you know, this meeting that's going to be happening at 3:00 p.m., what's going to be talked about there, what do you think? >> look, as long as the leaders are talking, there is still time for us to hammer out a deand prevent us from going over the fiscal cliff. what will be talked about today is what do the outlines
estate tax, maybe not. the important though, i think, is mcconnell and the senate is important, but ultimately john boehner has said he wants the majority of republican members of the house to vote for whatever deal happens. that's a key factor. they have to agree to something that president obama also agrees to. that's a big gap. basically he's -- i don't know that there's 120 house republican votes for that yet. plan b was voted on, a -- house republicans wouldn't approve of that, either. the...
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Dec 30, 2012
12/12
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. >> that's with the $250,000 and under keeping their tax rate. everybody else gets a tax hike? >> i live in an alternate reality. the grew of age in politics in the clinton administration and watched pelosi and harry reid vote for tax increases under bill clinton that are the taxes we would go back to if we do nothing. at the same time, i watched nancy pelosi lead the charge against the bush tax cuts that ultimately now they want to keep 98% of. the truth is if we go over the cliff on a tax basis, we're only going back to the clinton era taxes. if we don't change spending, we're going to stay over the cliff. even if we go back to the clinton tax rates, the clinton tax rates, which is what the cliff is described as, you still have nearly half a trillion dollars a year, $5 trillion over ten years worth of deficit. that's because while we grew the -- under bush the taxes revenue went up 25%, and spending went up 100% in the last 12 years. if you put back the revenue from the higher taxes, you still have a deficit. that's what we're trying to change. >> we kind of are where we are,
. >> that's with the $250,000 and under keeping their tax rate. everybody else gets a tax hike? >> i live in an alternate reality. the grew of age in politics in the clinton administration and watched pelosi and harry reid vote for tax increases under bill clinton that are the taxes we would go back to if we do nothing. at the same time, i watched nancy pelosi lead the charge against the bush tax cuts that ultimately now they want to keep 98% of. the truth is if we go over the cliff...
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Dec 30, 2012
12/12
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rate should be as well as on taxes on small business as well as the death tax. they are very divided on this issue. >> the estate tax. yeah. so let me have you answer that. i have another subject i want to bring up. do you think there will be a deal and that most taxes will not go up? >> we're not there yet, but i'm hoping in a bipartisan way we can get something done before new year's day. >> okay. let me -- i wanted to play you something else, because you were an immigration lawyer before you came in, continues to be something you're interested in. and the president was talking about priorities for this year and here's what he had to say. >> i've said that fixing our broken immigration system is a top priority. i will introduce legislation in the first year to get that done. i think we have talked about it long enough, we know how we can fix it, we can do it in a grow hensive way that the american -- comprehensive way the american people support, that's something we should get done. >> sounds like it could be a done deal. talked enough about it. >> i think he
rate should be as well as on taxes on small business as well as the death tax. they are very divided on this issue. >> the estate tax. yeah. so let me have you answer that. i have another subject i want to bring up. do you think there will be a deal and that most taxes will not go up? >> we're not there yet, but i'm hoping in a bipartisan way we can get something done before new year's day. >> okay. let me -- i wanted to play you something else, because you were an immigration...
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Dec 26, 2012
12/12
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KPIX
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leader harry reid was reportedly on capitol hill at christmas working on a scaled-down plan to avoid tax hikes for all but the wealthiest americans. his plan would also include short-term spending cuts instead of long-term deals that have been sought. president obama will cut short his hawaiian vacation around return to washington today to take part in those negotiations. christmas day the president and first lady met with servicemembers and families. the president told marines he was grateful for their service and posed for pictures. >>> more bay area headlines. one of santa's helpers put in a little overtime on christmas but instead of a sleigh and reindeer, san jose postal worker nancy ray used this a mail truck. ray is carrying on a decades old tradition of delivering packages to people on christmas. this is the third year ray has put her sant suit. she started working in the san jose post office 20 years ago and said this is a job she always wanted. >> some books, two things of presents. >> a relatively new christmas tradition continues in richmond as hundreds showed up at the commu
leader harry reid was reportedly on capitol hill at christmas working on a scaled-down plan to avoid tax hikes for all but the wealthiest americans. his plan would also include short-term spending cuts instead of long-term deals that have been sought. president obama will cut short his hawaiian vacation around return to washington today to take part in those negotiations. christmas day the president and first lady met with servicemembers and families. the president told marines he was grateful...
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Dec 27, 2012
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there are many donors who itemize their taxes and they take advantage of the charitable tax deduction and they include very middle income people. >> reporter: also on the table is the possible elimination of the mortgage deduction. >> if that were to happen eventually i think that would have to be phased out over a long period of time. >> i think it encourages people to buy houses versus renting. and if they were lower the mortgage rate reduction, people will think twice. >> cpa mark britton thinks it is a good time to it refinance if you still have 15-20 years left on the mortgage. >> an interest rate drop could make a significant difference in the total amount that you pay over the length of the mortgage. >> michael finley reporting. >>> starbucks is using its coffee cups to encourage both sides to come to an agreement. they are asking employees at cafes in washington, d.c. to write something other than customer names on the cups. it wants workers cribble the words come together. >>> a gun buyback event in los angeles called a huge success tonight. people in their cars lined up for
there are many donors who itemize their taxes and they take advantage of the charitable tax deduction and they include very middle income people. >> reporter: also on the table is the possible elimination of the mortgage deduction. >> if that were to happen eventually i think that would have to be phased out over a long period of time. >> i think it encourages people to buy houses versus renting. and if they were lower the mortgage rate reduction, people will think twice....
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Dec 27, 2012
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the main dispute remains over taxes. who should be taxed? and when. >>> well, people may be mixed on the feelings for president obama. his wifes seems to have no problem charming the public. according to a new poll released yesterday the first lady has a 73% approval rating. secretary of state hillary clinton also pretty popular with 66% approving of her job performance. a little more than half of the people asked feel that both president obama and vice president joe biden are doing a good job. >>> just a few hours you will be able to gamble any time of the day that you want. >> maryland live casino is getting ready to open its doors and once that happens they're going to remain open 24/7. >> abc2 news linda so is there this morning and linda the apartment was empty. casino is empty but it's not going to stay that way for long. >> reporter: no, just a few hours at 8:00 to be exact they'll be opening the doors for good. the lights are so pretty. they're getting ready for a big day today. when the doors open at 8:00 this morning they will stay
the main dispute remains over taxes. who should be taxed? and when. >>> well, people may be mixed on the feelings for president obama. his wifes seems to have no problem charming the public. according to a new poll released yesterday the first lady has a 73% approval rating. secretary of state hillary clinton also pretty popular with 66% approving of her job performance. a little more than half of the people asked feel that both president obama and vice president joe biden are doing a...
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Dec 26, 2012
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. >>> lawmakers are heading back to washington to try to stop you from paying more taxes in 2013. they better figure it out soon. they have less than a week to do it. the vacation is over. it's the day after christmas, hope you had a merry one. thanks for joining us on this wednesday morning, i'm megan pringle. >> i'm charley crowson. we had snow on christmas eve here, the south and midwest got hammered with severe weather yesterday. >> what's in store? here's meteorologist mike massco. mike, it's nice to have you here in the morning. >> thank you. it's nice to be here. you know, guys, i think we'll see some snow, a little burst of snow coming in during the course of the morning. 32 at bwi right now. the atmosphere certainly moistening up a bit, northeasterly wind at just about 12. and notice temperatures across town, while we're at 35 in annapolis, down to the freezing mark in easton, it's really chilly over our northwestern suburbs. 30 in eldersburg, 29 in manchester. notice on maryland's most powerful radar, down to the south of d.c., it's starting to snow and this is what's go
. >>> lawmakers are heading back to washington to try to stop you from paying more taxes in 2013. they better figure it out soon. they have less than a week to do it. the vacation is over. it's the day after christmas, hope you had a merry one. thanks for joining us on this wednesday morning, i'm megan pringle. >> i'm charley crowson. we had snow on christmas eve here, the south and midwest got hammered with severe weather yesterday. >> what's in store? here's meteorologist...
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Dec 26, 2012
12/12
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CNBC
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raising taxes. we'll have to get serious. your guys just gave us, it was depressing enough to go out and have two double cheeseburgers and a milk shake. it was awful, and it's about time. we need a plus. we need something to charge up this economy, and getting this done. robert zelic on our board on the campaign to fix the debt, you know, the former head of the world bank, he said america is one good debt deal away from being the dominant economy for the next 25 years in the entire world. >> so you believe it's going town lock -- taking away that uncertainty is going to unlock cap "x" and hiring and consumers to open up their wallet? you think it will make that much of a difference? >> i believe it will. how many other arrows do we have in our quiver? >> there's an optimistic thought. better have another cheeseburger, governor. good to see you, again. thank you. >> good to see you guys. >> let's fix this. >> yeah. wouldn't that be nice. i'm the optimistic one on this show, and i'm starting to lose t
raising taxes. we'll have to get serious. your guys just gave us, it was depressing enough to go out and have two double cheeseburgers and a milk shake. it was awful, and it's about time. we need a plus. we need something to charge up this economy, and getting this done. robert zelic on our board on the campaign to fix the debt, you know, the former head of the world bank, he said america is one good debt deal away from being the dominant economy for the next 25 years in the entire world....
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Dec 26, 2012
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. >> reporter: if congress doesn't change tax cuts in day, middle income earners will owe extra by the end of the year and they will cut back on auto industry, apparel and entertainment. >> once they cut back on that, that will be dramatic. >> reporter: retailers support 1 in 4 american jobs and if the downturn intensifies, those jobs are at risk. >> if retailers stop creating jobs, the economy as a whole stops creating jobs. >> reporter: the weight is excruciating for some and president obama left them $200 billion apart. >> the president was $200 billion higher on revenues and speaker boehner, $200 billion higher on spending cuts. >> if you get 80% of what you want, that's a pretty good day. >> reporter: tough decisions ahead, six days left. >> lawmakers will likely take on spending reform and tax cuts when the debate heats up. >> looks like they will be working over the new year. >>> a note was left by a suspected shooter that killed two firefighters christmas eve in new york. more details on the person already convicted of murder. >> reporter: police say the christmas eve ambush of
. >> reporter: if congress doesn't change tax cuts in day, middle income earners will owe extra by the end of the year and they will cut back on auto industry, apparel and entertainment. >> once they cut back on that, that will be dramatic. >> reporter: retailers support 1 in 4 american jobs and if the downturn intensifies, those jobs are at risk. >> if retailers stop creating jobs, the economy as a whole stops creating jobs. >> reporter: the weight is excruciating...
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Dec 29, 2012
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and don't forget, the payroll tax goes up, too. >> so taking out for social security taxes -- no one is talking about it. that says to me, those are going back up anyway. those are about a thousand in cost -- so let me ask you, there is the actual what will happen on january first? and it doesn't sound like people will have to worry about their taxes, most people. but what about the psychological impact? haven't we already seen it in christmas buying? haven't we already seen it in hiring? wouldn't we continue to see it -- you know, won't consumer confidence take a hit? won't businesses still say i don't know, i don't know what is happening. >> already has, candy, you have seen it in this year's christmas shopping season was lackluster, at best. i talk to businesses who say we're not hiring right now. we're just cancelling a lot of the plans to make new expenditures expenditures expenditure, this is not a good way to run a railroad. and the economy has already taken a hit because of all of this turmoil in washington. and as i said, i think you know look, i'm a republican. but i think
and don't forget, the payroll tax goes up, too. >> so taking out for social security taxes -- no one is talking about it. that says to me, those are going back up anyway. those are about a thousand in cost -- so let me ask you, there is the actual what will happen on january first? and it doesn't sound like people will have to worry about their taxes, most people. but what about the psychological impact? haven't we already seen it in christmas buying? haven't we already seen it in hiring?...
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Dec 27, 2012
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hour, dividend taxes are not taxed at 15% but are double taxed. companies have to pay taxes on their profits before distributing them as dividends. dividends are double taxed and will almost be triple taxed unless we do something in washington. all those million of dividend investors should be really angry. bad for them but it's bad for the economy. >> realistically though could we really expect it to go to 39.6, there's got to be some compromise in there somewhere. i wouldn't think the republicans would let it go much higher. >> you look at it. i don't think washington guess what this does. look at the effective rate. right now if i pay $1 as a public or private company and pay $1 a earnings as interest, it's taxed 18% higher effectively. >> right. >> so what does that do? that creates something called a debt bias. debt bias is bad for our economy. right now we have three things, too many debt in our economy, not enough job creation and need more income for retirees. tacking dividends is going to make all of those situations worse. >> to pare thi
hour, dividend taxes are not taxed at 15% but are double taxed. companies have to pay taxes on their profits before distributing them as dividends. dividends are double taxed and will almost be triple taxed unless we do something in washington. all those million of dividend investors should be really angry. bad for them but it's bad for the economy. >> realistically though could we really expect it to go to 39.6, there's got to be some compromise in there somewhere. i wouldn't think the...
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Dec 27, 2012
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tax cuts for everyone making under 250. can republicans say no to tax cut in 2013? >> andrea: it will be tough. not tougher than the p.r. battle they are fighting now. i think he wants that scenario, eric. i think obama thinks going off the cliff is a win for him so he can pass the obama tax cut and say look, i'm bringing in revenue. i lowered the deficit. pass his tax cut. a win and he can blame the g.o.p. i would argue i don't think the g.o.p. had the ball on this fight. i don't think they gave it up. i don't think they had it. it's very tough for them to win against the white house like this. and a white house press corps that is not going to report anything negative against the president. >> eric: the ball is a debt ceiling. remember, all the negotiations, tell you, i'll get to greg, they have to go through the house. money negotiations go through the house. if the house says no on raising debt ceiling they can create havoc. go ahead. >> greg: i don't care anymore. >> kimberly: okay. you did last week? >> greg: as a human being in this discussion, i have already
tax cuts for everyone making under 250. can republicans say no to tax cut in 2013? >> andrea: it will be tough. not tougher than the p.r. battle they are fighting now. i think he wants that scenario, eric. i think obama thinks going off the cliff is a win for him so he can pass the obama tax cut and say look, i'm bringing in revenue. i lowered the deficit. pass his tax cut. a win and he can blame the g.o.p. i would argue i don't think the g.o.p. had the ball on this fight. i don't think...
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Dec 29, 2012
12/12
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but until now they've done little to agree on tax increases on tax cuts until that time. people in this building have none what's coming on tuesday yet they're only returning to get back to work just now. senate came back yesterday. house members, well, they won't be back until sunday. this afternoon house on senate leaders met with president obama at the white house. they talked for about an hour. afterwards president obama said he was modestly optimistic. bypassing house speaker john boehner, who has had trouble getting his fellow republicans to agree to anything, the president called on senate majority on minority leads are harry reid on mitch mcconnell to work out a deal on then present it to the house. he also laid out a scaled down mini deal if they are can't manage it. >> if we don't see an agreement between the two leaders in the senate, i expect a bill to go on the floor, i asked senator reid to do this, put a bill on the floor that makes sure that taxes on miedddle class families don' go up, that unemployment is still available for 2 million people on that lays
but until now they've done little to agree on tax increases on tax cuts until that time. people in this building have none what's coming on tuesday yet they're only returning to get back to work just now. senate came back yesterday. house members, well, they won't be back until sunday. this afternoon house on senate leaders met with president obama at the white house. they talked for about an hour. afterwards president obama said he was modestly optimistic. bypassing house speaker john boehner,...
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Dec 28, 2012
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>> don't tax me. tax the guy behind the tree. that's what we're faced with. everybody wants to pay lower taxes and get more services if you're in defense, you say, we need the money. if you're in agriculture, you see we need subsidized crop insurance. where does it end? in montana, we've had eight years of -- they're not willing to do that in washington, d.c. they just kick the can down the road. >> what does it mean in terms of federal aid or reduction in federal aid if we go over the fiscal cliff and even if we don't go over the cliff, and they come up with a bandaid, you risk losing more federal aid down the road, don't you? >> no question about you. we're a rural state. montana is the size of pefl r. -- pennsylvania, new york. there are federal dollars that pay for maintaining those highways. you can't have a million people pay for all those highways because it connects the entire country. you have forest service, 30% of the land is owned by the federal government. so there's a lot of federal dollars that come to montana. that's part of the system. >> wha
>> don't tax me. tax the guy behind the tree. that's what we're faced with. everybody wants to pay lower taxes and get more services if you're in defense, you say, we need the money. if you're in agriculture, you see we need subsidized crop insurance. where does it end? in montana, we've had eight years of -- they're not willing to do that in washington, d.c. they just kick the can down the road. >> what does it mean in terms of federal aid or reduction in federal aid if we go over...
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Dec 27, 2012
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dividend stocks because you might be extremely vulnerable if competition ever spiked in a big way or the tax rates on dividends went up dramatically and your whole portfolio could get hurt. if you own one stock with a real large yield and one or two other names also sport decent dividends once they get raised, that's not a bad thing. i know dividend-paying stocks may not be what most people consider sexy, but you know what? dividends make you money and to me that's the definition of sex appeal. i've got a pretty warped social life. my perspective here might be a little skewed by the fact remains buying high yielders and reinvesting your dividends back into the stocks, one of the greatest and most reliable ways to make money out there, plain and simple. it allows the interest to compound over time. in other words, over time the money from your past dividends pays dividends. giving you what we call compounding returns. now there's a huge misconception out there about dividends. people think that high-yielders are only about safety or generating income in your retirement but go back to january
dividend stocks because you might be extremely vulnerable if competition ever spiked in a big way or the tax rates on dividends went up dramatically and your whole portfolio could get hurt. if you own one stock with a real large yield and one or two other names also sport decent dividends once they get raised, that's not a bad thing. i know dividend-paying stocks may not be what most people consider sexy, but you know what? dividends make you money and to me that's the definition of sex appeal....
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Dec 26, 2012
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WBAL
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. >> reporter: if congress doesn't extend expiring tax cuts in just days, middle income owners will owe uncle sam about $2,000 extra a year. retailers will cut back in automotive, apparel and entertainment. >> once people begin to pull back on that, the effect will be dramatic. >> reporter: the national retailers association said retailer its support 1 in 4 american jobs and if the downward turn intensifies. for those, the wait is excruciating. president obama visited troops in hawaii over christmas after a frustrating week on capitol hill. he and speaker john boehner about $100 billion. >> the president was $200 billion in revenues. speaker boehner $100 billion in spending cuts. >> reporter: tough decisions ahead. six days left. and lawmakers are now saying they will likely address tax reforms and spending cuts in the new year when the debt ceiling debate gets going. reporting live in washington. i'm danielle leigh. richard, back to you. >> danielle, thank you. >>> a note was left by the suspected shooter that killed two firefighters christmas eve in new york. here's nbc's ron mott wit
. >> reporter: if congress doesn't extend expiring tax cuts in just days, middle income owners will owe uncle sam about $2,000 extra a year. retailers will cut back in automotive, apparel and entertainment. >> once people begin to pull back on that, the effect will be dramatic. >> reporter: the national retailers association said retailer its support 1 in 4 american jobs and if the downward turn intensifies. for those, the wait is excruciating. president obama visited troops...
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Dec 26, 2012
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also be back in session on thursday without a deal by the end of the year automatic spending cuts and tax increases going into effect. >>> starbucks is trying to do what it can to urge a "fiscal cliff" compromise. the coffee chain is asking employees at its cafes in the d.c. area to write the words "come together" on cups for the next two days. starbucks plans to continue the effort on social media. >>> encouraging signs in the housing market. home prices rose in most major cities in october up more than 4% from a year earlier and october was the fifth straight month of year-over-year gains. taking a look at the big board now, you can see that stocks are down today in a light trading session. you can see the dow is down about 9 points. >>> a bay area family and the season of giving. how the kindness of strangers helped save a family's injured dog. ,,,,,,,,,,,,,, donors for saving their dog. c-b-s-5 reporter christin ay >>> a you can bay area couple is thanking -- a young bay area couple is thanking anonymous donors for saving their dog. christin ayers shows us how strangers saved the dog
also be back in session on thursday without a deal by the end of the year automatic spending cuts and tax increases going into effect. >>> starbucks is trying to do what it can to urge a "fiscal cliff" compromise. the coffee chain is asking employees at its cafes in the d.c. area to write the words "come together" on cups for the next two days. starbucks plans to continue the effort on social media. >>> encouraging signs in the housing market. home prices...
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Dec 26, 2012
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. >> reporter: if congress doesn't oaks spire tax cuts in day, middle income earners will owe $2,000 extra a year. consumers are predicted to cut back in automotive, apparel and entertainment. >> once people decide to cut back on that, the effect is dramatic. >> reporter: the national retail federation says retailers support 1 in 4 american jobs and if the downward trend intensify, those jobs would be at risk. >> if retailers stop creating job, the economy as a whole will stop creating jobs. >> reporter: the wait is e excruciating. president obama visited hawaii after talks on capitol hill. they were $200 billion apart on a deal. >> the president was $2200 billion higher on revenues and speaker boehner, $200 billion on spending cuts. >> if you get 80% of what you want, that's a pretty good day. >> reporter: tough decision ahead, six days left. >> lawmakers are saying they will likely take on tax reform and spending cuts again in the new year when the debt ceiling debate heats up. richard, back to you. >> looks like they will be working over the new year. thanks for your time. >>> a n
. >> reporter: if congress doesn't oaks spire tax cuts in day, middle income earners will owe $2,000 extra a year. consumers are predicted to cut back in automotive, apparel and entertainment. >> once people decide to cut back on that, the effect is dramatic. >> reporter: the national retail federation says retailers support 1 in 4 american jobs and if the downward trend intensify, those jobs would be at risk. >> if retailers stop creating job, the economy as a whole...
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Dec 29, 2012
12/12
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MSNBCW
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seems to be a vote on taxes. democrats will be able to pocket taxes, but it will be separate from spendsing cuts from the outset and then likely there will be another set of negotiations after the new year that will have spending cuts and taxes in it. that sounds like a recipe for democrats getting more in taxes than they would have with an up front deal. are your colleagues worried about that at all or are you? >> first of all, you are enlightening me so something that i was not aware of. that was not the conversation i had with my colleagues across the aisle or with the minority leader. so, you have information that i don't have. look, we cannot solve the problem with taxes you have to do both. this country is in trouble fiscally and financially as well as ratings. if we do not do something significant, we will have a rating problem. and there will come a time that we cannot afford the interest. what is the best thing that we can do now, given the political dynamics in washington that actually makes difference
seems to be a vote on taxes. democrats will be able to pocket taxes, but it will be separate from spendsing cuts from the outset and then likely there will be another set of negotiations after the new year that will have spending cuts and taxes in it. that sounds like a recipe for democrats getting more in taxes than they would have with an up front deal. are your colleagues worried about that at all or are you? >> first of all, you are enlightening me so something that i was not aware...
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Dec 27, 2012
12/12
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KPIX
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they have less than five days to come to agreement before tax hikes and spending cuts kick in. senate majority leader harry reid has a plan to let tax cuts expire for households making more than $250,000 a year along with short-term spending cuts instead of the long-term cuts that would happen if there is nodule. >> the american people are waiting for the ball to drop but it's not going to be a good drop because americans' taxes are approaching the wrong direction. >> reporter: negotiations between president obama and house republican leaders stalled last week. the house is now leaving it up to the democratic-controlled senate to solve the problem before the new year deadline. in addition to the "fiscal cliff," treasury secretary timothy geithner warned congress that the u.s. is close to hitting its debt limit of $16.4 trillion. geithner saved the government will take steps to allow more burrough after december 31. danielle nottingham, cbs news, washington. >>> let's look now at the markets. stocks fell sharply by 55 and change. the drop is attributed to consumer confidence fal
they have less than five days to come to agreement before tax hikes and spending cuts kick in. senate majority leader harry reid has a plan to let tax cuts expire for households making more than $250,000 a year along with short-term spending cuts instead of the long-term cuts that would happen if there is nodule. >> the american people are waiting for the ball to drop but it's not going to be a good drop because americans' taxes are approaching the wrong direction. >> reporter:...
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Dec 27, 2012
12/12
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the main dispute continues over who gets taxed and exactly how much they will be taxed. >>> ? less than two hours you can gamble around the clock. maryland live casino is now getting ready to open the doors and they will never close once that happens. own 24/7 and abc2 news linda so is live this morning at the casino and linda, are you playing yet? >> reporter: no, not yet. you said it yourself. it all happens at 8:00. you know it's never going to look this quiet again. because when they open those doors this morning at 8:00, this place as you said will be open every day of the week, 24 hours a day. this is the first casino in maryland to do so to tell us more about it this morning the general manager here rob norton. thank you for joining us. exciting day for you. >> yeah, exciting another step. >> reporter: so what is this mean for the casino? will the restaurants -- everything be open 24 hours? >> we'll have food offering up to 24 hours, one of the restaurants will remain open all night. some of the others will remain on the same hours we expect about a 500 crowds that we c
the main dispute continues over who gets taxed and exactly how much they will be taxed. >>> ? less than two hours you can gamble around the clock. maryland live casino is now getting ready to open the doors and they will never close once that happens. own 24/7 and abc2 news linda so is live this morning at the casino and linda, are you playing yet? >> reporter: no, not yet. you said it yourself. it all happens at 8:00. you know it's never going to look this quiet again. because...